Directa Plus, a producer and supplier of graphene-based products for use in consumer and industrial markets, reported its financial results for 2016. Revenues increased by 89% compared to 2015 - up from €390,000 to €740,000 - as the company produced 3.1 tonnes of materials, up from 1.3 tonnes in 2015.

Loss after tax in 2016 climbed to €4.1 million from €1.7 million in 2015. Directa Plus had €10.6 million in cash and equivalents as of December 2016.

Directa, however, warns that it expects a "significant" reduction in revenues in 2017, as it sees its current projects with existing and potential customers taking longer than expected to materialize. Directa also expects its shipping volumes in the tyre segment to be lower in 2017. By the end of 2016 Directa had 17 active customers (up from 7 at the end of 2015), and during the year the company was granted two new patents.

Tags: